Illumina Q3 Beats on Top and Bottom Lines

Illumina's (NASDAQ: ILMN) Q3 results cheered investors today. The company reported quarterly revenue of $357 million, a 25% jump from the $286 million it posted in Q3 2012. Non-GAAP net income also grew, rising to $63 million ($0.45 per diluted share) from the year-ago quarter's $54 million ($0.41).

On average, analysts had been projecting a top line of $344 million and EPS of $0.40.

Illumina also provided forward guidance. For fiscal 2013, the company now believes it will post revenue growth of around 22% year over year, placing the top line at around $1.4 billion. EPS is expected to come in at $1.75-$1.77.

Illumina stock climbed by nearly 7%, or $5.59, to $87.35 per share in after-hours trading following the results announcement.

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment icon found on every comment.